At the beginning of the year, Dubai Company had total assets of $377,000 and total liabilities of $133,500. If total assets increased by $123,000 during the year, and total liabilities decreased by $48,600, what is the amount of owner's equity at the end of the year?

At the beginning of the year, Dubai Company had total assets of $377,000 and total liabilities of $133,500. If total assets increased by $123,000 during the year, and total liabilities decreased by $48,600, what is the amount of owner's equity at the end of the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

Sub: accounting

At the beginning of the year, Dubai Company had
total assets of $377,000 and total liabilities of
$133,500. If total assets increased by $123,000
during the year, and total liabilities decreased by
$48,600, what is the amount of owner's equity at
the end of the year?

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